‘Govt keen to ease Kuwaitis plight’ – Consensus needed on defaulted loans

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KUWAIT CITY, Jan 8: According to informed sources, the appropriate way out for the two authorities – legislative and executive – that will lead to the continuity of agreement between them is to address the situation of financial insolvency of borrowers so that their failure does not lead to the Central Prison and cause the separation of their families, reports Al-Anba daily. The sources called on the government to reschedule the remainder of the defaulted loans, according to the data of the Central Bank of Kuwait, and facilitate some procedures for them, adding that they are actually entitled to assistance according to official data, provided that the government undertakes to do so.

In response to information circulating that rescheduling the loans of defaulters will lead to an expansion of the category of defaulters, the sources said, “It is not true. The percentage of defaulters is still the same since the government intervened for the first time, and amounts to 2.3 percent. The rate of failure to pay loan installments is a global ratio that is repeated in the most regular countries in paying installments. Why the demand to drop the loans? Why do some people make these claims? What is the wisdom behind asking for the waiver of loans? They are calling for dropping the loans, and at the same time there is a shortage of medicines and the streets need reforms.” The sources highlighted the importance of focusing on the completion of development projects so that they will be refl ected on everyone.

Meanwhile, the Minister of State for National Assembly Affairs and Minister of State for Housing and Urban Development Ammar Al-Ajmi stressed the importance of enabling the government to prepare its legal, technical and financial studies regarding proposals for laws submitted by members of the National Assembly.

He said the proposals for laws submitted by some members of the National Assembly, which are scheduled to be included in the agenda of Tuesday, require agreement on them by the executive and legislative authorities, adding that the government must be enabled to present its data according to its legal, technical and financial studies for discussion during the current session. Minister Al-Ajmi indicated that the government, with the cooperation of the National Assembly, is keen to figure out the needs of citizens and alleviate their suffering, within the framework of the government’s work program for the 17th legislative term.

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